With reference to the ILO Global Wage Report 2024-25, consider the following statements: 1. Global real wage growth remained negative in 2024 due to persistent inflation. 2. Labour productivity has increased more rapidly than real wages in high-income countries between 1999 and 2024. 3. Wage inequality has increased in the majority of countries globally since the year 2000. Which of the statements given above is/are correct?

Question

Accepted Answer

2 only — Statement 1 is incorrect because global real wage growth recovered to a projected 2.7 percent in 2024. Statement 2 is correct, highlighting the decoupling of productivity and wages (29 percent productivity growth versus 15 percent wage growth). Statement 3 is incorrect because the report found that wage inequality actually decreased in about two-thirds of countries since 2000.

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